Socket Mobile, Inc. (SCKT) has reported a 986.95 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $10.41 million, or $1.40 a share in the quarter, compared with $0.96 million, or $0.16 a share for the same period last year.

Revenue during the quarter went up marginally by 0.72 percent to $5.43 million from $5.39 million in the previous year period. Gross margin for the quarter contracted 138 basis points over the previous year period to 50.07 percent. Total expenses were 87.73 percent of quarterly revenues, up from 80.95 percent for the same period last year. That has resulted in a contraction of 679 basis points in operating margin to 12.27 percent.

Operating income for the quarter was $0.67 million, compared with $1.03 million in the previous year period.

Kevin Mills, president and chief executive officer, commented, "In 2016 we achieved continued profitable growth, including record operating profit, and we significantly strengthened our balance sheet. As a further indicator of the underlying strength of our business, we have restored deferred taxes to our balance sheet as of year-end. 2016 is our third consecutive profitable year and we believe that the strength of our business will enable us to realize the benefit of our deferred tax asset balances from future profitability including from our net operating loss carryforwards."